v3.20.1
Condensed Statement Of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net loss $ (586,770) $ (2,342,996)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 9,255 11,533
Loss on sale of equipment   9,594
Amortization of premiums and discounts on marketable securities, net (4,864) (18,499)
Stock-based compensation 76,302 161,000
Unrealized loss (gain) on fair value of warrants 58,392 (1,513,371)
Changes in assets and liabilities:    
Prepaid expenses and other assets 156,450 73,367
Accounts payable and accrued expenses (28,724) (906,350)
Deferred revenue (900,000) 150,000
Other, net (1,492) (4,373)
Net Cash Used in Operating Activities (1,221,451) (4,380,095)
Cash Flows from Investing Activities:    
Purchase of equipment   (13,181)
Sale of equipment   5,500
Purchase of marketable securities   (8,887,566)
Redemption of marketable securities 3,000,000 3,000,000
Net Cash Provided by (Used in) Investing Activities 3,000,000 (5,895,247)
Cash Flows from Financing Activities:    
Issuance of common stock and units, net of issuance costs   7,653,828
Net Cash Provided by Financing Activities   7,653,828
Net Increase (Decrease) in Cash and Cash Equivalents 1,778,549 (2,621,514)
Cash and Cash Equivalents - beginning of period 9,219,547 8,744,301
Cash and Cash Equivalents - end of period 10,998,096 6,122,787
Supplemental Cash Flow Information    
Operating cash flows paid for amounts included in the measurement of lease liabilities $ 38,262 84,651
Non-cash financing and investing activties:    
Warrants issued   4,735,913
Operating lease right-of-use assets obtained in exchange for lease obligations:   $ 380,935

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